All Forum Posts by: Elias Halvorson

Yakir, 

You can do a cashout refinance but the fees will likely eat up a lot of the $ you would be getting out. I would for this I would recommend getting a personal loan. Youll get higher rates, but more $$$$ and a lot less fees. SOFI gives up to 100K personal loans and you might only pay 200-300$ in document fees. 

Not an UW but this seems to be an easy LOE. Especially if you filed a police report. 

You can let them know there is a way - volunteer to defend their nation for 4 years and they’ll have great 0 down payment options;)

Aloha Elden, 

I would definitely look to Colombus more than Cinci or Dayton. I used to live in beavercreek and the local economy of cinci and dayton were always pretty depressed. As a lender I would say keep your credit score high and save up money for a down payment. Those are the two biggest things you can do with regards to your pre-approval from a lender. Also, with regards to Nursing, travelling nurses tend to have a harder time getting pre-approved because they are typically 1099'd and dont have two years / employment stability. So, if travelling nursing is something you want to pursue, make sure you wait until AFTER you purchase your home. 

Hey Brother, I think it's a great idea using your VA loan to purchase the quadplex. The VA loan benefit is one of the most powerful tools those of us who have served can use to build wealth. I would ask a few agents in the area to provide some data to you. I am happy to be a resource for the VA loan side - that is my specialty. For lenders, I would recommend shopping with at least 3, and compare rates/fees.

I would say clients probably prefer whomever the agent recommends. If they knew the difference only a few clients would ever choose to go to banks, and that would likely be due to niche programs (Like Bank Of America's Physician loans). 

Ricardo, 

Lots of people can do this (as you see by all the people responding and hitting you up). I would recommend going with a local lender to your area. 

You should be able to do a DSCr if you have 25% down. I know you said a second home but that is an option. 

Loanstream and (I believe) Velocity mortgage both lend on mixed properties. Again, youll be looking at 20-35% down and 2-5 points, but they do lend on them. Not sure if they are in WI though.